National
Will appoint receiver and auction assets, SC tells Unitech’s Sanjay Chandra (Lead)
New Delhi, Sep 21 (IANS) The Supreme Court on Thursday said it will appoint a court commissioner as receiver of real estate major Unitech’s properties to realise the Rs 7,600 crore to be paid to home buyers if they opt for refund of the amount given for buying flats.
A bench of Chief Justice Dipak Misra, Justice Amitava Roy and Justice A.M. Khanwilkar also said that they would put to auction the assets of Unitech for realising the money.
The court said this as amicus curiae Pawan Agrawal told the court that in 61 projects of the real estate major, there are 16,300 flat buyers with total involvement of Rs 7,816 crore.
“We will put to auction,” Chief Justice Misra said as counsel for Sanjay Chandra, Managing Director of Unitech, urged the court to set him free for six months and he will build the flats and also mobilise the money to pay the home buyers who wish to opt out.
“We have to balance an individual’s interest with the tears of 16,000 poor flat buyers,” the court said as Chandra’s counsel Abhimanyu Bhandari told the bench that his client “will go down the drain” and sought six months’ time to arrange the finances and start the business cycle start, noting that out of Rs 272 crore that were decreed against me, he had already paid Rs 141 crore.
Pointing out that all over the world real estate companies go into the red and Chandra was the only one in jail, Bhandari urged the court to allow his client to go to his office.
The court however appeared to be taking a dim view of real estate majors taking the home buyers for a ride by not adhering to schedules of the completion of project and delaying it by years.
On Wednesday itself, the top court had asked Unitech to pay litigation cost of Rs 80,000 each to 39 home buyers – who later opted out of Unitech’s Vistas project in Gurugram – and got refund of their principal amount with 14 per cent interest on the apex court’s directions.
Meanwhile, Agrawal informed the court that as directed, he has created a portal having the details on Unitech’s projects including the home buyers, financial status and other information and this would become operational from Friday.
The court directed the hearing of the matter on October 23.
Chandra and his brother Ajay were arrested in April this year after investors who did not get their flats as promised filed complaints of cheating against them.
They were sent to judicial custody after the trial court refused to extend the three months interim bail granted to them in April.
The Delhi High Court too refused to extend the interim bail that came to an end on August 10.
–IANS
pk/vd
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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